2013-01-21
2013-01-29
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pockets, but we may be losing our competitive edge. some say it's because america's fragile economy is a distraction for corporate america. others point to our inferior infrastructure and sub-par public education. but adam segal, author of "advantage," says the big problem is others are gaining ground. >> we have been kind of running in place for the last three or four years because of the recession, spending on r&d, and big ideas seem to be fairly scarce while china just continues to funnel more and more money into it. >> reporter: still many argue the u.s. will always be extremely competitive because we are the most innovative country in the world. what better place to witness innovation at work than at i.b.m. in westchester county, new york. this is the home of watson, big blue's super computer. watson was clever enough to beat "jeopardy" champions at their own game just a few years ago. now, i.b.m. researchers are working on new uses for the brainiac computer, particularly in the field of medicine. bernie meyerson calls himself i.b.m.'s head geek. he says innovation is critical

>>> on our broadcast tonight, signs of life in the american economy. near record highs on wall street, a housing turn-around under way. the problem is, a lot of americans aren't feeling it yet. >>> there is a new outbreak to worry about, spreading like wildfire across our country. and unlike the flu, for this one there is no vaccine. >>> the dark cloud hanging over a big american city. doctors say the air is so bad, it's the equivalent of forcing every resident to become a heavy smoker. >>> and seeing red. a push by republicans to change the way we elect a president. if these had been the rules across the map in november, we would have president romney. >>> also, a big night for the biggest blockbuster of all-time. "nightly news" begins now. >>> from nbc news world headquarters in new york, this is "nbc nightly news" with brian williams. >>> good evening. the evidence is now unmistakable. aspects of the u.s. economy after a long and difficult period of darkness appear to be getting more robust. and while there are lots of numbers out to prove the point of an improving economy,

with the u.s. energy revolution, aring if to help us this year on the economy. let's bring in our ace investors, david goldman, former head of income grout at bank of america and michael farr, author of "restoring our american dream, the best investment. abigail doolittle, the investors killed it after hours. >> i think what's going on is an important inflexion point. we had another earnings miss, another guide down. this once superstar amongst the text stock has been falling for a few months. i think traders answered vestors were waiting for this report to see what the future with look like. unfortunately it's not as bright as some might have hoped for and that's now showing up in the stock. >> is there an offset here? google did very well today and revenue was very good. apple versus google consideration apple stop this rally? i don't think so but i want to get your take on this. what does it mean apple is doing badly? is it an apple thing, an economy thing or consumer thing or what? >> i think that's a great question. i think right now i tend to agree with you. i think investors wi

so we can keep interest rates low so we can make sure we don't hurt our economy. >> i want to command -- commend you on the effort of people to just put out a budget. with all due respect on my friends on the other side, last year they were in majority, they chose not to do that. they chose thinking it would provide political cover. it didn't. i think that's what's gone "encore booknotes" the senate side. calculation that somehow this will spare some of our members from difficult votes. i commend you for developing a difficult budget and getting your colleagues to vote on it and it was a legitimate issue in the campaign. i think it's an appropriate place to have the discussion. you come, you vote, we go have a campaign. that helps the country clarify the issues. we move on. the house has fulfilled its responsibility in that regard in through the fire in the election. i think that's fair. the senate just simply has not. and it is discouraging. you know, it just takes 51 votes. that's all it takes over there. i actually heard commentators tell us, oh, no, it takes 60. it takes no such t

to put his time. >> brown: well, you know, he spoke about the economy, getting the economy right first and foremost. he said "more than ever foreign policy is economic policy." did that sound right to you? >> i think that's right and i think this is a man who's grown up, really, in the political military side of foreign policy and national security and i think one of the challenges will be for him to recognize that the economic instrument in trade is really very important. if you look at asia, the coin of the realm in asia is trade and economics and, you know, if we're going to have a rebalancing toward asia, it needs to be an economics and trade overwhelmingly. so he's got, i think, a real opportunity to help lead the administration in using all of our instruments for national power influence, particularly economic and trade. >> brown: what do you think -- i mean, i know what you think about -- we talked about this in your last book about the need for economic thinking, i guess, changing the way we think about the world. but do you think that the administration has understood that wel

hadley and zbigniew brzezinski weigh in. >> brown: paul solman looks at china's fast growing economy and asks, is it headed for a crash? >> wages are rising for the burgeoning middle class, but for hardscrabble factory workers: mounting protests against livle wages d woing conditions. >> ifill: and vice president joe biden hangs out with hari sreenivasan on google plus to talk about gun violence. >> make your voices heard. this town listens when people rise up and speak. >> ifill: that's all ahead on tonight's "newshour." >> major funding for the pbs newshour has been provided by: >> and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. >> and with the ongoing support of these institutions and foundations. and... >> this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> brown: the u.s. military has a new order of the day: working up plans for putting women on the front lines. the process was se

going in, but not as much. and of course the anxiety of potentially healthy global economy is always going to give traders an excuse to try to sell what is close to some historically low levels of yield, high levels of price. >> yeah. and when you look at equities you see this huge move in the markets. are we taking a bit of a breather? jordan, how do you see it? >> i think it's been constrained. uncertain election and fiscal cliff. and all of a sudden people are starting to pay attention to the fact there are -- inflation's low. i think the market starts to run, forest run. >> not a lot of alternatives out there. right? >> even the high paying growth stocks are paying more to bonds. and the allocation hasn't happened yet. but beware. i think that could happen. >> john, what gets people to make the great exodus out of treasuries and into equities? if you're looking to the catalyst of what can take it to the next level, that would certainly be one of them. >> yeah. i think we have to see a lot higher level of inflation which we haven't seen thus far. you have corporate yields, dividen

, is the worst thing in the world. here is why, the economy is growing, housing is recovering and we're going to get a little bit of relief here. as the economy grows, we hope that-- we're going to-- >> adam. >> the problem that you have adam, as the economy is growing, and we're coming slowly out of this recession, you've got more taxes coming, payroll taxes are going up and you're going to have the higher rates, ben says is great, rich need to pay more, but basically keeps the lights on for three days and by the way, then you have obamacare taxes. >> and then here is the thing, gerri, there's never the right time. listen, it's not about punting right now. this is an extension -- remember the deal before with the debt ceiling, supposed to be the ultimate deal we'd never have to punt again. this leads to another punt, another punt and things are getting better let's not do it now. things are getting worse, let's not do it it now. and it's raining outside, let's not do it. let gerri talk for a minutes. >> according to the democrats, they're standing in the way of this. never seem to get anythi

of europe's content. in belgium, more people turn to handouts to survive the growing economy. -- the grim economy. the russian parliament about a draft law banning homosexual propaganda. there was only one deputy that voted against it in the lower house. outside, passion spilled over to scuffles on the street. police made arrests after the gay-rights supporters were insulted by opponents. steve rosenberg reports from moscow. >> ahead of the debate inside the russian parliament, there was drama outside on the street. gay-rights activists. police detained 20 people. later, military police turned their attention to the controversial bill. pass the first hearing by a huge margin. it will prohibit the spread of homosexual propaganda in the wording which presence of children. it would mean across russia public events promoting gay rights could be broken up and the organizers find -- fined. >> we see open propaganda that harms. young people will decide on their own how to live in the future and what orientation to choose. >> this draft bill sends a bad signal to society of repression and limitat

on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ at devry.edu/knowhow. itbut sleep train's huge foyear eends sunday. salels, get beautyrest, posturepedic, even tempur-pedic mattress sets at low clearance prices. save even more on floor samples, demonstrators, and closeout inventory. plus, free same-day delivery, set-up, and removal of your old set. don't wait, sleep train's year end clearance sale ends sunday. superior service, best selection, lowest price, guaranteed. ♪ sleep train ♪ your ticket to a better night's sleep ♪ >> neil: all right. in the middle of earnings season, we don't give you every one, but we try to give you the ones that are cons quential or meaningful, google is considered such a barometer for t

korea will have long-rangl the other things happening with the economy, with china. >> you wanted him to talk about that kind of stuff and he didn't. >> none of it was about that. and the american people -- we deserve some explanations here. yesterday, with secretary clinton: why have you not got an anybody who dead the benghazi attacks? we now know the same people are right out in the open admitting they did it. they're in algeria. we just had a warning today there's potentially another attack coming against westerners in benghazi. the second question, why did you fail to secure could -- gadhafi good's weapons before toppling him. those are the weapons we're seal all over the place, and the third thing i'd like to get some answers for, how are you going to protect all those american civilians who are staying behind after american troops leave the region. >> a good thing you weren't asking questions. we give a lot of money to this region. what are we getting for it? >> very little. that's one over the big problems with foreign aid. i like and believe in foreign aid. i think it's a lo

actually a friend of the system and the economy. take a listen to this one. >> i think jpmorgan was a -- was not just a fair weather friend. we were there in good times and bad times for everybody, including nations. for spain and italy we will tell you -- we were lending $15 billion net of collateral. net derivatives, spain and italy. yes, it's governments and multi- nationals if you want to be transparent. what would you do? what would you all do? if you were my board of directors, it's easy to say don't take the risk. move out. we've been in spain and italy, one for 60 years, wur finish over 100 -- one for over 100. we're not a fair weather friend. companies want us there. we have to manage that risk. something may go wrong. >> got to tell you guys, the feedback after that panel was actually not good. a lot of people criticizing jamie just in the hallways. obviously a lot of people happy to see him defending the bank. a lot of bankers here. the mood, nature of where we are. there was some criticism. the other big news, by the way, not happening in davos -- yeah? >> i was goin

have been overly optimistic on the economy. and, we've seen autos really rebounding over the last year. we're really starting to see improvement in the housing market. so, i think those are some very fundamental pieces of the economy that could really lead to some stronger growth in the future. >> reporter: as for retail investors rediscovering stocks this january, not everyone thinks the reunion is for real. some experts say the market will have to rally a lot longer before that happens. suzanne pratt, "n.b.r.," new york. >> susie: from a smartphone in your hand to a smartphone in your glasses, still ahead, the latest fashion trend: wearable technology. exxon-mobil is back on top. it's reclaimed the coveted title as the world's most valuable company. apple now slips to number two. exxon is woh an estimated $417 billion a apple is $4 billion less. since apple hit $700 a share in september. it has lost roughly $250 billion in value. the change comes exactly one year after the tech titan knocked the oil giant out of the top spot. shares of microsoft ended flat today, after posting quarte

. rather than focusing on america's vexing problems like an exploding debt and a weak economy, mr. obama put forth that the nation's top priority must be imposing social justice. >> we must make the hard choices to reduce the cost of healthcare and the size of our deficit. but we reject the belief that america must choose between caring for the generation who built this country and investing in the generation that will build its future. [ applause ] for we remember the lessons of our past when twilight years were spent in poverty. parents of a child with a disability had nowhere to turn. we do not believe that in this country freedom is reserved for the lucky. talking points disagrees with president obama's priority. although. impossible to do what the president wants to do. in short, prosperity. can't be done no matter how much money you spend. much more effective is building a strong society based upon a robust free market and effective, effective social programs. that provide opportunity rather than charity. as the president should know by now. the federal government cannot provide fo

a hint. sometimes it goes up before the economy is improving. we don't need monetary policy to drive stocks. >> that's why it's going up? >> the market? >> the yield. >> well, i think because the economy overall is improving and we're going to see some flows back in equities. that's why i think yields are actually starting to slowly go up. because it's starting to rejoin with gdp. >> benedict? >> i couldn't agree more. great numbers out of china. i think china is far more important than the european situation. and as yields go up, the exposure in your bond portfolio, the interest rates will have a drop on your yield. you got to be in equities. >> ben willis, b. belski. thank you. now, maria. >>> and it is 4:00 on wall street. do you know where your money is? welcome back to "the closing bell." i'm maria bartiromo on the floor of the new york stock exchange. the dow six-day winning streak in jeopardy tonight with a decline on the session. yahoo numbers are out. dow jones industrial down 12 points at 13,883. nasdaq finished positive just by a fraction. up about 4.5 points. and s&p 500

of an economy that has been stagnant for about four years. in the meantime the federal government keeps plunging into debt. so if someone brings forward an alternative to at least give us the opportunity to provide effective oversight and to make sure that this money does go to emergency needs and doesn't just fulfill a wish list for what some cities would like to do in the future to prevent against future storms -- not that we shouldn't be debating that, but that doesn't qualify as an emergency need getting money to the people that need it now. these are future decisions. we haven't had time to assess those. we haven't had time to examine those in detail. we haven't used the process that is in place here in the united states senate to go through committees and let the committees work through, is this essential to meeting the emergency needs? or can we set this aside and spend a little more time examining it, looking at it to make sure that this is how we want to go forward? we have a habit here of throwing money at things under an emergency category and then later finding out that, one, it wasn

.3%, down from a contraction of 0.4% in 2011. more difficult news for the spanish economy. >>> now in a long-anticipated speech on the future of britain in the european union, prime minister cameron has warned that democratic consent from a u.k. membership is "wafer thin." speaking in london, he said he's in favor of having e.u. referendum but not at the moment and urged e.u. leaders to address the challenges currently alienating the electorate. >> there's a gap between the e.u. and citizens which has grown dramatically in recent years and which represents a lack of democratic accountability and consent that is, yes, felt particularly acutely here in britain. now if we don't address these challenges, the sdarj that europe will -- danger is that europe will fail and the british people will drift toward the exit. >> i spoke to unilever's paul pohlman to get his thoughts on the strained relationship with the european union and whether a potential u.k. exit is bad for business. >> if you create a certain level of uncertainty between now and 2017 or whatever the date is of a proposed referendum i

. we are going to take the greatest economy in the greatest country, with the greatest responsibility in the world and we are going to put them on a 0-day leash. . how does a great country respond on a 90-day leash? we know what happened the world saw this happened. we got downgraded in the credit rating. that drove up the cost of borrowing in the united states. that drove up the borrowing cost of corporations. that drove up the costs of counties and cities that we represent. and we're told again that should we falter on the credit debt of the united states, that we can expect a downgrade and we can expect a further downgrade in cities and counties all over the country. and somehow we're supposed to believe this is a good plan. what this plan does -- can i have three additional minutes? mr. mcgovern: i yield the gentleman two additional minutes. the speaker pro tempore: the gentleman is recognized for two minutes. mr. miller: what this plan does is hold the jobs of american families and working people all across this had country, it holds them hostage. it holds them hostage to the pa

've heard from our republican colleagues economic uncertainty is bad for the economy. guess what? it is. and yet that's exactly what you are doing. another big dose of economic uncertainty. >> reporter: republicans shifted gears on the debt ceiling after a strategy session last week. worried that they have lost the public debate, republicans were clearly trying out a new message tod. >> balancing the budget over the next ten years means we save the future for our kids and our grandkids. it also means that we strengthen programs like social security and medicare and medicaid that can't continue to exist in current form without some kind of controls. >> reporter: there is just one problem. democrats argue the "no budget no pay provision" violates the constitution's 27th amendment which says any changes congress makes in its pay can't take effect until after the next election. >> we should not say to a member, "if you think the budget before you is not good for the country, vote against it and you won't get paid. if you think it's not good for the country, you better vote for it because yo

by bloomberg, 36% said america's fiscal woes are the biggest threat to the world economy, more than the 29% who named the european debt crisis. anthony mason is attending a meeting of world bankers in davos, switzerland. >> reporter: how strong do you think the u.s. economy actually is right now? >> i think the u.s. economy wants to be strong. >> reporter: but mary callahan erdoes says the bickering in washington is holding it back. erdos is one of the most powerful women on wall street. as c.e.o. of j.p. morgan asset management, she presides over $1.2 trillion in investments. >> the u.s. has to realize it's got so much going for it. let's just get ourselves to come together as a team, one team running that country, helping to get itself back on stable footing which then cascades to the rest of the world. >> reporter: how much does it hurt the economy if we don't confront this? >> it hurts us tremendously. it hurts the confidence of the u.s., it hurts the confidence of the c.e.o.s to know how do i invest? what are the rules going to be? and we've got to get back to believing that business is go

want the sequester actually to go forward which would put the breaks on the economy at least to an extent and drive more people back into bonds. >> reporter: others say any return to bonds may be short- lived, as the u.s. economy is showing new signs of strength. >> i think we expect more improvements, moderate improvements. but, you know overall that's usually a cause or thought that rates could go higher. and, in that regard it's probably not a market that will have the same sort of returns that we've seen over the past two years. >> reporter: so, it seems most agree the bond market is unlikely to be a cash cow for investors going forward. at the same time, however worries about a bond market bubble seem unfounded. suzanne pratt, "nightly business report." >> susie: immigration reform takes center stage this week. a group of senate democrats and republicans agreed today on what they called a framework for comprehensive immigration reform. tomorrow, president obama heads to las vegas to give a policy speech on immigration. with washington focused on immigration, citizenship

to attribute all this do. we'll talk to gouldsby about jumging the economy. i don't know if he's good about -- >> he's been pretty spot on. >> but we're going to hear up some of the party line from him. i saw some of the stuff he says. we're going to find out why we're doing a little better and is whether it's going to continue. let's get the national forecast now. oh, my man is back, the weather channel's reynolds wolf. i told you that the last time. cold weather. >> that's right. >> climate change, snow climate change, no snow, climate change. any variability. and we know about weather over the years, over the millions and billions of years. we know that it never -- the median line is because of all this variability. so it goes like this and then we get to the middle. but now, anything that is not right on that middle average is now seen as, oh, something is happening. >> reynolds is going, what? >> no. he is with me. he knows exactly what i'm saying. every single thing is because of co2 emissions now, reynolds. >> i am just absorbing this. i am just absorbing this. no, we have to talk, m

economy and is going to create jobs and increase the standard of living for hard- working, middle-class americans. you know, we talk so much about mortgaging the future, mortgaging our children's future and i care deeply about that. but frankly, we are mortgaging now the future is now. and we all -- all of us here, we want to fight. we want to fight for that nurse, that carpenter, that teacher, that grand parent, that parent, that student, we want to fight for everyone across this country. and the 113th congress has been sent here i think to be do big things, the hard things, and this is the first step in that process. no budget, no pay. >> questions? >> speaker boehner, yesterday in the president's inaugural address he suggested that immigration and climate change will be top priorities for him. what do you think of his call for action on climate change, and is immigration a high priority? >> there are a lot of priorities for the congress. a lot of priorities for the president. and right now, the biggest issue is the debt that's crushing the future of our kids and grandkids. hard

a greater growth in the u.s. economy i think is still a question mark. >> down europe, up 10% china. okay. china, can be a source of top line growth. latin america could be a source of top line growth. >> and when asked about china, the words for sure, the idea that china is staging a rebound. >> and this is despite the fact that they have terrible fraud there. kind of overlooked it. when you're in that virtuous circle, it doesn't seem to matter what you say that's negative. people want to grasp the positive. it's a different kind of market from what we've had for multiple years. >> and to melissa's point about correlation, it's not that risk on, risk off, which we have dealt with for so long now. every hedge fund would come in, and say, europe's bad today, risk off. >> there are no more excuses for the fund managers who are underperforming the s&p 500. this year could be a good year, a different kind of year from the hedge funds that have done so poorly. >> they're going to have to do actual work. >> right. they will have to show performance now. >> they'll have to go through these quart

of it, how much the circumstances the economy was unable to brand obama. >> the clearest way to look at this is to look at 2010. 2010 was a set -- was a resounding rejection of what obama had done in the first two years. it was a resounding rejection of the intrusiveness expansion of the pyramid. it was a referendum on this kind of hyper liberalism and there was a referendum about the size and reach of government. and it was a pure ideological election. because there were no personalities involved. you weren't voting for president. you want boating up and down on a figure. you were voting on issues and the dominant issue was obama and as a scare, the stimulus committee increase in spending, the expansion of the government. or to put it in a more abstract and grand was the difference between federal and state which was tilting more toward state. when the question is put that way, the country shows itself to be center-right country. had republicans been able to duplicate those conditions, that framework in 2012, they would have won. but it is not the same election. 2010 is almost purel

have a spirit of innovation here in washington that haswe are not done. [applause] a new world economy is emerging from the depths of this recession, and while its contours and relationships are not fully understood to us, we do know two things, one. with our uniquely powerful fusion of values and talents, washington state has the potential to lead the next wave of world-changing innovations. two. the world will not wait for us. global competition for the jobs of tomorrow. leading this next wave of growth entitlement. we must move, swiftly and boldly, to put this recession behind us, and bring forward a unique economic strategy that much." today, i'd like to share my vision of the path ahead. i know that to achieve this vision we must all work together. democrat and republican, house and senate, east and west, to answer the challenges of our age. i have represented both sides of our state, first as a state representative from yakima valley, then in congress representing both eastern and western washington. i want to thank the people of washington for electing me your governor. [applaus

when those numbers come out and will a good number what will it say about the economy, where it is? >> it depends on what the good number is right in the expectation is for about 175 thousand jobs, clearly a positive number moving in the right direction, but understand, you know, we need to create better than 300,000 jobs every month in order to really get out of this hole that we're in. that being said, i think you're going to get a preliminary look at the jobs number on wednesday, adp, they will come out wednesday with their sometiesti. any positive number is a good number. anything in or around 165 will be viewed as certainly expected. don't expect, you know they massive reaction as a result. >>> this economy like an indecisive lover, isn't it? earnings, coming up. boeing, ford, caterpillar, all big players out there, good indicator of where the economy is heading. what do you expect to see there? >> listen, we have seen earnings this quarter come in, 72% of the earnings so far have wasn't the estimates, but investors should understand the estimates have been slashed for the fou

your sense of what's going on in terms of the global economy. how do you see things? >> sure. why don't we start in europe. europe remains a challenging place. i think that the actions that mr. draghi took have technically been very strong. i think they have put a safety net under the market, but i think the challenge, is and it's one of the big topics here, is how do we get growth back into these economies. fundamentally that's what we need to do, and i don't think there's a clear path to that but it will take some time. >> been a tough couple of years. >> yes, it has. >> let's talk about citi, you're repositioning the firm. how are you planning on doing that and what's the vision going forward? >> our strategy, maria, is really focused around a few of the big secular things going on in the world. globalization, urbanization and digitization. if you think of globalization, thinking of what's going on in the economy, most of the growth is coming from the developing countries. you look at 2008 to 2012, 45% of world growth came from china. a trend we're going to continue to see the next

the economy has got to be at the very, very top. second of all in my view, when scientists tell us that if we don't get a handle on global warming, the planet may warm by eight degrees by the end of the century with devastating consequences, of course we have to move away from fossil fuel in a dramatic way. transform our energy system. by the way, we can create jobs doing that. right now our republican friends, when you talk about want to do entilement reform, it's not entitlement reform. let's be clear. it's massive cuts in social security, medicare, veterans programs, medicaid. >> you know their argument is that you can't just raise taxes. you have to, at some point, you have to get your fiscal house in order and that means cuts to some of these entitlement programs. >> no it does not. when you talk about getting your fiscal house in order, that's correct, but our republican friends forget to mention that at 15.8%, revenue compared to gdp, that is the lowest percentage in 60 years. when clinton gave us a balanced budget, revenue was about 20%. we have one out of four corporations, profitabl

, i'll tell you who is paying for it. we're paying for it, the taxpayers. what they did to the economy put it into the tank and it was big stimulus package that had to pull us out of the tank. we're still doing that right now. i wish the doj would go after these folks and give some answer. i think that frontline documentary is outstanding. mike papantonio, good to have you with us tonight. thank you so much. that is "the ed show." i'm ed schultz. the rachel maddow show starts right now. >> thank you for joining us. happy friday. the detroit lions used to play in this building, the pontiac silverdome in once prosperous pontiac, michigan. after the lions left the silverdome and the pontiac factory moved and the town of pontiac went broke, they're tried to sell the stadium to the highest bidder. >> the field has seen monster truck rallies, soccer games. if it can happen on a field, kit happen here. >> out here at the silverdome, we have anything ranging from your dirt shows, snocross shows, home and garden show, trade shows, converts all the way down to anything you would like to do on to

the economy. the economy some argue is not one of his priorities. >> if you look back in 2008 the median household income 52,546 dollars. three years into president obama's presidency the average for 2011 it dropped more than 2,000 dollars to 50,054. when you look at the numbers do you think the president should be more focused on the economy. john meachum is talking about it this morning. >> the most important g median household income over the last 12 years. without rectifiying that this will be an unmemorable presidency and potentially a significantly -- >> how is he going to do that in three years? how is he going to remedy that turn that around so the regular folks start to make more money? it seems to me almost impossible with these policies. >> i think we are all to blame here. a lot of people don't want to hear the hard truth. people don't want to pay more taxes they don't want to see these cuts. they don't want to embrace the simpson bowl kind of proposals. these are hard choices. you and i didn't run for president. he sought the job. he is a good man. i think you would agree wi

of the federal reserve, talks with us about the debt crisis, the economy and the fed. alan blinder joins us. >> tom: that and more tonight on "n.b.r."! >> susie: just a single cent higher. earnings from software "giant" microsoft were only a penny more than what anysts were expecting. microsoft shares slipped as much as 2% on the news in after hours trading. here are the numbers: microsoft earned $0.76 a share, down 3.7% from a year ago. revenues rose more than 2.5% to $21.5 billion, but also below expectations. the results mark the first quarter to include sales of microsoft's new windows 8 operating system, and its tablet computer, the "surface". sales of its windows division jumped 24%, but no financial details on the surface tablet. wel haveore analysis on microsoft, in a just a moment. >> tom: the other big tech story today: apple and its big fall following yesterday's lackluster results. the stock lost 12% of its value or $63 a share, closing at $450 and change. suzanne pratt reports. >> reporter: no doubt this was a sour day for investors. not only did the stock log its largest dolla

of an economy. steams you come there and you obviously things don't always always come through. northbound suggested it's because the adjectives are fun. do you buy that? >> no. i would say the last couple of years, people were pretty negative. i have to say, though i've only been here a day, people are pretty positive this time. a bit more optimistic about what might be happening. i wouldn't say it's time to pop champagne, but people have been more positive this year. >> thank you for being here. joe, becky, back to you guys. we'll see new a little bit. we have a fun segment for you at 6:30. >> you do. i looked through some of the stuff, andrew. you're a regular skier. >> it's a little embarrassing, but we'll show it to you. >> don't give it away. >> but your heel -- >> there it is. >> your heel is not tethers to the ski, right? that's what makes it -- right? >> this is a different type of skiing that i had never done before. >> oh, god. good. >> now you've got the piece. you'll see it. there might be a fall or two involved. >> that's how your hair got messed up yesterday. >>> coming, wha

of the ongoing drought is having on the u.s. economy and food prices. plus, your e-mails, phone calls, and tweets. washington journal live at 7:00 a.m. eastern on c-span. >> one of the key themes, of course, for any exhibition on the civil wars are the abolition and e mans nation. we are fortunate that they came of age what they did. between the two of them, they make issues around e mans passion and abolition. issues around human rights and american freedom on a general nonrace specific level. ly go through every piece of include that johnson puts in the picture. i'll summarize by saying for you pay attention to the top half as well as the bottom half. what you get is a white cat in the bedroom window and dark skin black woman holding a child. there's a ladder and a fabric coming out the other. there's a way in and out without being seen. there's a rooster up here. roosters have a habit in the evening of finding a perch and calling to the hen to spend the night with them. the hen is on top of the slave quarters. if you add up of the little ins and outs and look down here at the white girl enteri

's strong point, the economy has also been a big issue. more from our colleague. >> yes. welcome to jerusalem where we will be broadcasting for the next two days. israel's election. driving to the heart of a sensitive but still stagnant process of peacemaking with the palace. today is a day for israelis to make a choice about their next leaders. no political party has ever gained a majority in israeli elections. so there's expected to be a lot of postturing about what type of government there will be for israel over the next four years. my colleague looks at what is on the ballot box today. >> israel's prime minister, benjamin netanyahu was cheery this morning as he arrives to vote. by the end of the day he will likely have something more to be chief about. the leader of the party is expected to come out on top and keep his job. but at jerusalem's main market the lack of suspense means there's little fever. they talk about israel being divided and disillusioned. most take it as a give than benjamin netanyahu will remain in office. >> if you ask me, nothing. no b.b., no nothing. >

the country faces which is getting our economy going. >> sean: i like what our colleague charles krauthammer said it's an ode to big government and you pointed out in the list, gun control, gay marriage, global warming, he not only wants to lock in every liberal agenda item, but advance it further. will he be successful? second term are notoriously not successful. >> let's add global climate warming on her, climate change. we've already passed this through the congress. it's done. is congress going to pass it? is congress going to tell the states, no, you can't put that past voter i.d. laws? only in it's bipartisan doesn't require amnesty and citizenship. gun control passed, no. i think the president was basically declaring his administration is no longer substantive achievement. it's make the democratic party and making the republicans look more extreme. taking their strength to pass positive items that pile up over in the senate never to be really considered, but give them an agenda, a view that says to the american people he's over there worried about gun control. we're worried about gett

, is not president obama. the problem is us. we, the people. have to decide whether we want to market based economy or a allow the federal government to control commerce including healthcare. the president believes in equality. that would be nice. equality is great. if there is a heaven, i assume we will see it there. on earth, equality is impossible. you cannot equate an american who holds a ph.d. with a high school dropout. no matter what president obama tells us the two will never be equal in the market place. therefore, the president seems to want to change the marketplace, putting the federal government in charge of who gets what. even in the private sector. now, yesterday, he confidently stated that his so-called progressive view will bring the nation prosperity. but it has not and it will not. in fact, if america continues down the big spending road, this country could well go bankrupt. a very interesting question is why are so many americans accepting president president os vision when less than 30 years ago president reagan was the political icon? with reagan in mind. president obama made

and gloom vision of the obama economy just doesn't seem to match reality these days. i'll have the details coming up. >>> and while whistle-blowers come forward to describe the fraud that led to the financial collapse, the department of justice isn't going after wall street's ceos. i'll ask mike papantonio why they're just being let off the hook. you can listen to my radio show on sirius xm radio noon to 3:00 a.m. share your thoughts with us on #edshow. we're copping right back. hey, buddy? oh, hey, flo. you want to see something cool? snapshot, from progressive. my insurance company told me not to talk to people like you. you always do what they tell you? no... try it, and see what your good driving can save you. you don't even have to switch. unless you're scared. i'm not scared, it's... you know we can still see you. no, you can't. pretty sure we can... try snapshot today -- no pressure. >>> welcome back to "the ed show". thanks for stay with us tonight. liberals are furious about filibuster reform. here is some reaction from my radio show. >> what harry reid has done is just outrageous

the economy? we have a former white house political director under president george w. bush and a former chief of staff to west virginia senator joe mansion. >> great to be here. >> eric: matt, let me start with you. how do we get here? >> well, you know, i think about the president i served, george w. bush. when he came to office, he really was concerned about trying to if i understand a way to reach across the aisle because clearly bill clinton left the presidency with high numbers. he worked with ted kennedy. he worked with democrats and signature domestic policy issues and then 9/11 happened and the wars occurred. really, the nation polarized again, right versus left. i don't think we have come out of that. obama inherited that. but he talked about bridging that and governing in a way to bring right and left together. i happening the number-1 failure of president obama is not the economy. it's his failure to find a way to bring us all together. >> eric: chris, what about that? >> well, i think it's easy to put it on president obammasm the fact is, this has been building and arguably buildi

wasn't expecting him to give a detailed analysis of the economy today and what needs to be changed. i'm not suggesting that's not important but i was hearing him speak about lofty ideas of equality and freedom >> brown: yet he did point to some specific things as we heard in gwen's set-up >> that is true when it came to global warming or addressing the global climate change, i think we have to be willing to address these things. >> brown: trey grayson, what did you hear? >> i heard a pretty visionary, pretty articulate speech, articulate in a progressive vision for the country. i would agree with ramesh that the lack of the economy or references to the deficit in his speech was a little surprising given that that's the... probably the biggest issue of today (audio is) the fiscal cliff and everything else. and the fact that that was the number one issue on voters' minds even at the thematic level that was missing and a bit of a surprise >> brown: to stay with you, were you surprised by the emphasis on things such as gay rights or climate change, some of the specifics that he did point

is positive, and if you start looking at how the businesses and the economy is doing and juxtapose that against the politicians who aren't behaving very well, you have to be positive regarding the situation for the future stocks. >> so you like stocks more for the fundamentals than you do for any fed or congressional action right now. am i reading that right? >> absolutely, absolutely. i mean, for the third quarter of last year our stocks had earnings of over 6% which compares very favorable, and, you know, we're looking into the future and then we compare that to the general growth rates of the u.s. economy, and there's no question they are going to outperform so it has an impact. >> the imf lowered global growth numbers today, nobody seems to care because the money has to go some place and it's not going into the bond market. >> point well taken. in the past you talked about gold. >> was that long winded? >> we're about 15%, 20% in gold right now. listen, this is a stagflationry environment. going to get a lot worse. you have to own gold and oil. >> be globally diversified and mu

, republicans seem intent on keeping the country's economy as unstable as possible. the house averted the debt ceiling fight. at least some republicans. 33 members of the house gop still broke rank. by averting, we, of course, mean punting the ticking time bomb three months down the road. >> another 90 days away so we can continue to royle this congress, this country, our people, and our economy. >> we should not even be having a debate. it should be no doubt that the full faith and credit of the united states will be honored, and that is what our constitution says. >> the gimmick nature of this whole thing i won't elaborate on, has been done before. >> either way, the passage of this bill has allowed lawmakers to skip from brinkmanship to probably more brinkmanship. looming just over the horizon is a budget battle that could shut down the government and automatic steep spending cuts that could cost thousands of jobs. welcome to the new normal in washington. joining us now from davos, switzerland, is cnbc's squawk box co-host "new york times" columnist and author of too big to fail, andrew ros

far out ahead of slashing the budget during a weak economy. the other thing, of course, is financial reform. did and he the president put in place some things along with congress that boo prevent another financial disaster? >> we'll be looking forward to your interview with paul ryan, his first interview since the election. >> first interview since the election. we'll have a lot to talk about in terms of the future of the party. >> thank you very much. >> and now to discuss the future of the republican party, haley barbour, former chair of the republican governors association joins us now from capitol hill. thank you very much. good to see you. let's talk about bobby jindahl's instructions to the republicans at the winter meeting. we can't be the stupid party. do you think that your fellow republicans have figured out a way forward where they won't be the quoting bobby jindahl "the stupid party?" >> i think he is talking about during the campaign we had a couple of candidates for senator who made stupid remarks that not only hurt them in their own races, but spilled over and hurt oth

and taxes even more, whether it is cap and trade, regulating our economy and raising the costs for every american, they are feeling emboldened right now. and if conservatives stand together, we can stop that, and stopping bad things that would harm this country, that would harm americans, is a major victory for the next two years. [applause] but the third thing we can do in the short term is we can use leverage points to plaque real progress on the fiscal and economic crisis threatening this country. the fundamental dynamic when you have divided government is that whichever side owns the default is in the stronger position. either party can stop anything. so whoever wins if nothing gets done, wins the negotiation, wins the battle. it's why on fiscal cliff we got such a lousy deal. because if nothing happened, the result was a massive tax increase on er american who pays taxes, and i think president obama was perfectly fine, he was serene to go off that cliff. why? because his substantive agenda, which he doesn't hide from, is to dramatically expand the size and power of government, and t

that health care is now a huge part of our economy. accounting for almost 30% of gdp. that is to point trillion dollars. -- that is two trillion dollars. i am sure the policy students play a drinking game while watching programs like this on c-span based on how many times the word "unsustainable" is repeated. those same 2011 spending figures released earlier this month revealed that for the third year in a row aggregate spending grew by just 3.9%, the smallest increment in decades. to paraphrase ross perot's running mate in a debate many years ago, "why are we here?" at least one response to that question is we do not know if the health-care cost dragon has been slain or is just hibernating. how much of the slow increase comes from the sluggish economic recovery where people without insurance postpone care over which they don't have any kind of discretion at all, and what about the chronic conditions that continued the development of more sophisticated and expensive treatments and tasks? and for the most expensive health care program there is the fact that 10,000 baby boomers are joini

shape since the recession. given leeway to cushion the u.s. economy from federal budget cuts. here are some other stories in the news. this is from "the national council of state legislatures," which runs up what lawmakers are facing as they enter their session throughout the country. it says, -- it also looks at corrections costs. helping america become more energy dependent. and paying for transportation structure, roads, bridges, things like that. also, educating the workforce. let us take a listen to one of the governor's and what he had the say during this state of the state address. this is the governor of new york talking about new york state. >> yes it is hard to reform education. i know the politics of it. i know the problems. i know the issues. but, can you imagining how smart the state would be when we actually educate all of our children to the best of their god-given potential? when every black child and every white child and every orphan child and every other child is educated to their full potential? i know helping the state economy is hard. i know it has been decade

to note with after almost four years having passed with an economy that's been struggling, the senate never acted. it took one week in which their paychecks were on the line that now the senate is going to step up and do the right thing. we welcome them to this debate around the budget of the nation and look forward to making sure we can begin to reduce the mountain of debt that is facing our children. >> when you go across the country and talk to individuals, they're always stunned. it has been four years since the senate did a budget. when they stood back and looked the last time they did a budget, the ipad wasn't introduced or chevy volt and no instagram. it's shocking. today, you found a bipartisan vote that is asking for accountability and effectiveness in government and that's why we are moving it and we welcome the opportunity that the senate joins the debate and actually brings accountability back. >> today, the house acted. the house acted to put washington on a budget and to force a conversation about how we spend money. everyone in america understands that budgets matter. a

the budget, how to grow the economy. that's the kind of debate the country desevens. by the way, if we keep going down this path, we will have a debt crisis. it's not an if question, it's a when question. >> i remember him, alternativest young congressman from wisconsin that used to come on "squawk box." >> still fighting budget balthsds. >> if he's going to go on somewhere, at least he went on with david. congress must pass a stopgap spending bill by march 27th to keep the u.s. government running. and don't do that with your sneezes. >> what was that? i held it in. >> that's like -- >> i've been trying to hold it in because you were talking. >> no, no, it's going to come out. that's bad for you. something inside is going to pop or something. like an anneurism. it's bad to be repressed like that. let it out. >> that's his whole life. >> oh. >> let it out. >> michelle caruso ka brar ray. you're like a guest on the show, but thank you for being kind. >> it's the greatest feeling in the world. let it out. >> yeah, others have -- anyway, more trouble in egypt, a state of emergency has been decl

'll tell what you, if the economy keeps getting better over the next three years, you've got hillary linton rclin running three years from now, we republicans have such a major headwind in our face for the next three years. it's going to be tough. >> yeah, there's no question. but there's so many variables. >> go ahead. >> no, so many variables that could happen in the next 3 1/2 years. >> yeah. ed sees you making a motion, he stops. >> i was trying to get richard haass in on this. >> she wants some more 'roids. >> andrea, i'm sorry, we cut you off. >> no, there are other points about the politics of it. joe biden is going to be at the white house, in closed meetings with the president today and has had a very high-profile role. clearly, this is the interview that he would have wanted to see. and when you talk to a lot of leading democrats who were in town this weekend, they were saying that joe biden has everything going for him except that hillary clinton is a woman and is a celebrity and has the best popularity. and she has the virtue, after eight years then of barack obama and the obama

, and the economy. without it, things simply can't exist. woman: we have good health in this country, in part, because we have clean water. and we shouldn't forget that, and we shouldn't take it for granted. melosi: in the late 19th century, serious waterborne disease epidemics were having devastating effects. roy: but then, in the early 1900s, we began to treat our water. and since then, we've seen a rapid decline in the incidence of waterborne disease. narrator: most cities treat drinking water through filtration, chlorination, and sometimes ozonation to kill pathogens in the source supply. these are complex treatment plants that cost millions of dollars to operate, but are necessary for our wellbeing. the treatment of drinking water has been called one of the greatest public health achievements of the last century. the water infrastructure itself protects the treated water until it comes out of our taps. it's been since 1911, since we had an outbreak of cholera or typhoid in the united states. but that doesn't mean that it can't happen. it can happen. if we aren't on our guard all the time

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